by Alfonso T. Ruda
DIPOLOG CITY, DEC. 23(PIA)--- Members of Government Service Insurance System working and/or residing in Dipolog City and Polanco, Zamboanga del Norte have flocked to GWAPs Kiosk to avail the Emergency Loan granted by the agency to its members who are victims of typhoon Sendong.
This, after President Benigno Aquino III has included Dipolog City and Polanco among the areas to be under the State of Calamity due to severe damage caused by typhoon Sendong.
The GWAPs Kiosks are located at the GSIS Office in Barangay Minaog and at the Ground Floor of City Hall, Dipolog City.
Aside from Dipolog City and Polanco, other areas covered by the Emergency Loan Program are the provinces of Misamis Oriental and Negros Oriental; Ozamis City and Clarin, Misamis Occidental; Asuncion, Davao Del Norte; Tagbina, Surigao Del Sur; Hinatuan, Surigao Del Sur; Bislig, Surigao Del Sur; Lingig, Surigao Del Sur; Talacogon, Agusan Del Sur; Valencia, Bukidnon; Nabunturan, Compostela Valley; Montevista, Compostela Valley; Compostela, Compostela Valley; New Bataan, Compostela Valley; Monkayo, Compostela Valley; Iligan, Lanao Del Norte; Bubong, Lanal Del Sur; and Kapai, Lanao Del Sur.
Under the emergency loan program, qualified members can borrow Php20,000.00 using their eCard or UMID eCard. Those who have no eCard or UMID Card can still avail of the loan via Over-the-Counter.
The loan carries an interest rate of six(6) percent per annum computed in advance, and is payable in three years in equal monthly installment. An Emergency Loan Redemption Insurance of 1.2 percent of the gross loan amount shall also deducted from the proceeds of the loan. In addition, any outstanding loan balance of previous Emergency Loan shall be deducted from the proceeds of the loan.
Member-borrowers with outstanding emergency loan shall also be allowed to renew the loan if the borrower has paid at least 12 monthly installment but not earlier than the anniversary date of the previous loan.
The agency of the member-applicant must not also be suspended because of non-payment and non-remittance of premiums and loans.
The Emergency Loan started last Dec. 21, 2011 and will last until Jan. 20, 2012 (ATR/PIA9-Zambo Norte)